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According to Caixin, the global tax “satellite surveillance system,” CRS 2.0, is accelerating its rollout worldwide. Cryptographic assets, central bank digital currencies (CBDCs), and certain electronic money products have now been included within the scope of financial asset reporting. Hong Kong plans to implement CRS 2.0 by 2028 and simultaneously advance the Crypto-Asset Reporting Framework (CARF). In the future, cryptocurrency exchanges, brokers, and operators of crypto ATMs will be required to report cryptocurrency–fiat currency conversions, cross-cryptocurrency swaps, and domestic and cross-border transfers of cryptographic assets. Reports must precisely specify the full names of assets—for example, Bitcoin (BTC), Ethereum (ETH), and Tether (USDT)—and aggregate data by transaction dimension, including total market value, total holdings, and number of transactions. For retail payment transactions, individual transactions exceeding USD 50,000 must be reported separately. Although mainland China has not yet officially announced a timeline for implementing CRS 2.0, since 2025, tax authorities in multiple regions have begun notifying taxpayers—via phone calls and text messages—to self-report overseas income earned between 2022 and 2024 and fulfill their tax obligations accordingly. It is understood that CRS 2.0 will not only fully expose overseas-held cryptographic assets to tax oversight but may also trigger coordinated scrutiny by other regulatory bodies.
Odaily Odaily reports, stablecoin yield infrastructure project Osero announced the completion of a $13.5 million funding round, led by Sky Ecosystem, with co-leading from Plasma. Participating investors include RedStone, The Rollup, Kairos Research, as well as several crypto institutions and industry executives such as Joe Flanagan and Lorenzo Romagnoli. Osero was co-incubated by Stablewatch and Soter Labs, a governance and operations institution associated with the Sky Ecosystem. The project focuses on building savings and yield infrastructure around the Sky stablecoin system USDS and its yield-bearing asset sUSDS. It is reported that the funding round was initiated in December 2024 and completed in March 2026, utilizing a SAFT structure for issuance. The valuation was not disclosed. (The Block)
According to The Block, Tether has confirmed its participation in the previously announced $134 million private financing round of publicly listed Stablecoin Development Corporation (SDEV). SDEV positions itself as a vehicle offering public-market investors exposure to the stablecoin sector, with core holdings including the Sky Protocol governance token SKY and the stablecoin USDS. As of March 31, SDEV held approximately 2.15 billion SKY tokens, representing roughly 9.15% of the total supply. This financing was completed in January and included the deposit of 943.6 million SKY tokens, along with $25 million in cash and $51 million in stablecoins, which were used to acquire an additional ~1.17 billion SKY tokens.